Private equity firm Graham Partners sold Western Industries Inc., including its plastics product group based in Winfield, Kan., to Speyside Equity Fund in Ann Arbor, Mich.
Terms of the deal, which was announced Jan. 4, were not disclosed. Western Industries also has an engineered products group that operates out of a 250,000-square-foot facility in Watertown, Wis.
The plastics unit blow molds large products and components for industrial and consumer end markets from a 350,000-square-foot campus that houses about 17 blow mold heads and a variety of presses with shot sizes from 15-75 pounds, including what the company says is one of North America's largest collection of presses with 50-pound capacities and greater.
The division specializes in producing large and complex plastic products. A team of engineers helps clients research the feasibility of new plastic applications as well as product design. Assembly, packaging and logistics management services also are offered.
The engineered products unit is a contract manufacturer of metal components.
Formed in 2005, Speyside invests in manufacturing businesses in the specialty chemicals, food/ingredients and metal-forming sectors. The firm targets companies with revenue between $20 million and $300 million that have good positions in their markets and capable management that will remain.
Western Industries is a good fit for the acquirer, according to Adam Piatkowski, managing principal of Graham Partners, which is based in Newtown Square, Pa. The firm was advised by Stout Risius Ross Inc.
“We are very pleased with the outcome of this transaction,” Piatkowski said in a news release. “Stout did an outstanding job of finding the right partner for Western, which is well positioned to continue its success with Speyside Equity.”
